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FOX News
Nov 27, 2012 2:00pm PST
billion. >> andrea: they didn't want entitlement cut. that sunk the deal because president obama couldn't get his side to come along with it. >> dana: that is increditable from a p.r. standpoint that republicans get attention for being divided. it's actually the democrats more divided. they don't get as much attention. why is that? >> eric: they want to take shots. on the right, republicans and the right, there is another divide. you have a divide on the right that says fiscal conservatives saying don't raise taxes or close loopholes or do anything to increase re-knew. the establishment republicans say we need to work it. >> bob: deductions will be on the table. what is the difference between raising rates -- if you take desuction out, they have fewer in the pocket. wealthy people have fewer dollars in the pocket. raise the rates, less money. >> andrea: economy is more sensitive to playing with the marginal rates than deductio deductions. >> eric: if you let the bush tax cuts for over $250,000 expire, $80 billion. deficit of $1 trillion a year. you are only 18% of the way. you ar
ABC
Nov 27, 2012 4:00am PST
republican lawmakers are signaling a willingness to cut a deal with president obama. but doing so, it would require republicans to break a long-standing gop pledge. some republican lawmakers say they're now willing to defy party politics and cut a deal on taxes. if congress doesn't act, $650 million of spending and tax increases will take place on january 1st. but there's fresh hope in washington that republicans and democrats can strike a deal. >> the world has changed. >> reporter: the biggest obstacle is a pledge of no tax increases of virtually any kind that every republican has signed. but with fiscal calamity on the horizon, some gop lawmakers have changed their tune. >> i will violate the pledge, long story short, for the good of the country. >> reporter: defying the pledge would buck 20 years of republican orthodoxy. this is the man behind the pledge. he's gotten thousands of republicans to sign the pledge, in exchange for help getting elected. the lawmakers open to breaking the pledge say they will do so by closing loophole, not raising taxes, putting them at odds with pr
MSNBC
Nov 26, 2012 10:00pm PST
rhetoric r or we don't take the time to debunk it, but if the obama middle class cuts go through, rich people will get the largest cuts, still. >> we saw the obama victory numbers in this election. but i think he's had a bigger victory than what those numbers indicate and that's in this cnn poll that comes up and it shows today how effective the president's leadership has been on this tax issue because the country agrees with him and more people agree with him than voted for him on this particular issue. it's overwhelmingly in favor of the president's position on this and the republicans are reading that poll and their future is in that poll. >> and the republican party for too long has been driven by their primary electorate. they've been afraid of grover norquist and the tea party coming after them in primaries, but the more we see republicans coming out, reaching across the aisle, there are safety in numbers. so, it looks like there is going to be a genuine move to the center. >> here's what glover is hoping for, that we go off the cliff. then you go off without violating grov
Current
Nov 27, 2012 3:00am PST
democrats which is we won the election. president obama made it very clear. on the tax cuts from the bush tax cuts, there's no doubt. he said no way no how. if you want those tax cuts to go away, you think they've been there long enough, you vote for me. if you want them to continue you vote for romney. case closed, right? >> absolutely. >> bill: you think president obama will stick to that? >> i think that republicans are certainly going to test his willingness and how much he can. i think he did win the election and that was a central part of his platform. and that as he said is the bottom line. of course we -- we've seen him say before it was the bottom line and they extended the rates. >> bill: if i was at his news conference just before thanksgiving and that week before thanksgiving and he made it very clear he said again no way. you can count on it. you can count on it. >> he did. >> i will veto anything that does not include getting rid of the bush tax cuts. rebecca kaplan from the "national journal" our guest here. join the conversation. 1-866-55-press. what do you think? rep cape
Current
Nov 27, 2012 6:00am PST
would extend the bush tax cut for two years extend the tax cuts for the wealthy. obama had won 238 of stimulus for yielding on 114 billion in high income tax cuts. he says clearly obama had gotten the better deal. the public had been seen this over tax cuts answered over that obama had not gotten what he wanted. axelrod and other aids were not allowed to admit in public that the president had achieved a second stimulus. that's part of why the economy has gotten better and better and we've had all these months of job growth. corn finishes by saying what happened is not an indication that obama is likely to yield in a new faceoff but he will be assessing the dynamics in a new grid lock. that's not caving in, that's governing. much more as we continue on the "stephanie miller show." >> putting people out of work. >> stephanie: we need to get rid of all of them. there will be lungs on every governor tomorrow night. she is awesome. we'll be right back on the "stephanie miller show." [ ♪ theme music ♪ ] >> stephanie: okay, here we go. we rehearsed this time. [ ♪ music ♪ ] ♪ tod
MSNBC
Nov 27, 2012 12:00am PST
the republicans but we know it included cuts to entitlement programs. president obama agreed to squeeze $250 billion from medicare in the next ten years with $800 billion more in the decade after that. he was also willing to cut $1 10 billion from medicaid in the short-term. democrats make it sound like a deal like this could be worked out pretty soon. >> bring entitlement reform into the conversation. social security, set aside, doesn't add to the deficit. medicare and medicaid, protect the integrity of the program but give it solvency for more years. >> what's the integrity of the program? we have a lot of questions about where this is going to end up. republicans are also giving off clues about an upcoming deal. several house and senate republicans are rejecting an antitax pledge of grover norquist. but rejecting the pledge comes with strings attached. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> get out the gun and hold it to our head. democrat and republican lawmakers are giving the impression
MSNBC
Nov 26, 2012 8:00pm PST
our deficit. we made a lot of progress with obama care and there's other spending we have to cut. >> hold on a second. i think we all know what the chief drivers of our deficit are and have been. our projected deficit over the next seven years is driven mostly by the wars in iraq and afghanistan and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible on higher tax rates, but he also said this. >> and so where i think the big bottleneck right now is republicans in congress on revenue and how much and where does it come from. democrats are also going to have to step up here and do some tough things. and you know, the notion that somehow that these deficits and our debt are not a threat to our national security and our economic future is something i could not disagree with more strongly, as does the president. there are some, maybe not so much in our party but some commentators on the left that suggest that we shouldn't deal with this at all voices on the lift are not saying the d
Comedy Central
Nov 26, 2012 11:30pm PST
about? >> the fiscal cliff. >> stephen: fiscal cliff, yeah. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2009 by the taliban. >> stephen: let's put a picture of this space right here.
CNBC
Nov 26, 2012 7:00pm EST
, president obama has, unfortunately, lost credibility. morsi had already cut this deal for the cease-fire and he waited until secretary of state was there because no one wanted to embarrass the united states, but we weren't pivotal to it, so president obama has -- has an uphill climb ahead of him if he's going to get back in a position of power in the israeli/arab dynamic. >> all right. we'll leave it there. many things, former secretary of defense bing west, appreciate it. >> thank you, larry. >>> can investors make money in this market between now and the end of the year? we'll ask two market experts who have their eye on wall street, main street and most of all washington, d.c. we'll be right back. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> welcome back to "the kudlow repo
MSNBC
Nov 26, 2012 9:00pm PST
the president's first priority. that's forced upon him by the expiration of those tax cuts at the end of the year. but it seems to be embraced as what he wants to work on. president obama is not arguing for that tax cut expiration date to be extended, to be put off for awhile, to work on something else in the meantime. he seems to want this fight. not only talking about this reminding everybody that it is what he campaigned on when he won reelection. "the new york times" is he's employing the support information data base he built during his campaign toward trying to win that policy fight. and again, in addition to that, there's the breaking news of the president seeming to be lining his ducks in a row for nominating susan rice for secretary of state. the potential nominee taking meetings with the senate foreign relations committee, including john mccain, tomorrow morning. she will be taking that meeting alongside the acting director of the cia. in addition to this fight over the tax cuts, the president is not shying away from the secretary of state fight either. we know what he's
CNN
Nov 27, 2012 8:00am PST
bring with it more than $500 billion in tax cuts and spending cuts. mr. obama is in meetings with small business owners from across the country today. he is not, however, meeting with leaders of congress today. our dan lothian is watching the comings and goings at the white house. and at some point, dan, congress is going to have to either come together on this and work with the president on this, and yet we're seeing all these various different meetings all around the communities and the country. it looks like there's a particular strategy that's playing out when it comes to the president right now. >> reporter: that's right. a lot of negotiations have taken place in the staff -- on the staff level. the president himself did speak with speaker john boehner on the phone over the weekend. there was that meeting with the lawmakers, the leadership just before the president went overseas on his southeast asia trip. but so far, no additional meetings that we know of on the schedule for the president to sit down with congressional leadership to try to hammer this out. i can tell you that i sp
FOX
Nov 27, 2012 6:00am PST
about tax cuts to be extended. president barack obama has not met with congressional leaders since it before the thanksgiving break and no other meetings have been planned yet. the white house is welcoming comments on tax increases on wealthier americans. >> some of the tax increases are welcome and they represent what we hope is a different in tone and approach to these problems. >> but time is running out to strike a deal for spending cuts that kick in as part of the so called fiscal cliff are now just 35 days away. allison burns, ktvu channel 2 morning news. >>> well a new study finds part of the bay area have higher invasive amounts for the western part of the state. the northern part of alameda county and a section that runs between san mateo and alameda counties. breast cancer rates were 10 to 20% higher than the state average from 2000 to 2008. breast cancer rates have long been a concern in marin county. >>> they are looking into whether the man accused of killing a police officer will stand trial. he is accused of killing a police officer and he is being held without bail but
FOX
Nov 27, 2012 5:00am PST
and a $100,000 reward led to his capture. >>> president barack obama is increasing pills our to extend middle-class tax cuts and extend tax cuts for wealthier americans. here is a look at whether we are any closer to seeing a deal. >> president barack obama called congressional leaders over the weekend since he had not met with them and we are just 35 dc-madam days from spending cuts that kick in as part of the fiscal cliff but there is no deal. both sides seem to repeat with democrats echoing the president's demand for tax increases on the wealthy. >> he has promised he will not sign any bill that mortgages our future for the went quest 2% -- wealthiest 2% of americans. >> no tax increase for those who will not materialize later. >> reporter: but some are indicating they might be okay for some tacks increasing. allison burns, ktvu channel 2 morning news. >>> and a new study had substantially higher rates of breast cancer compared to the rest of the state. those include contra costa and the northern most part of alameda, san mateo and santa clara. breast cancer rates in the regi
FOX News
Nov 27, 2012 1:00pm PST
are actually looking at potentially cutting the mortgage deduction. now, if my opinion this is another example of president obama and congress trying to take money away from people's pockets in order to fund government spending when if reality the revenue that would be brought in by cutting away the mortgage deduction wouldn't make a dent in reducing the national deficit. in fact, the approximate savings for cutting the mortgage deduction would be about $83 billion and that would only help run the government for 8.3 days and would have reduced the national deficit not one bit. >>neil: if you, a lot of people buy a home or second home with the idea they have the write off to enjoy, the mortgage deduction, there is a $1 million cap on underlying mortgage for principle interest but if they go after that, what do you see happening? >>guest: well, as the real estate market is going to do well and warren buffett said it is spark the economy and the government will interfere with that? many willing a this is only going to affect the rich, the people that will be most affected by this
FOX News
Nov 26, 2012 9:00pm PST
savior. barack obama? "hannity" starts right here, right now. >> it's clear the democrats spell blood in the water. if a deal is not reached by january 1st, a series of defense budget cuts will mean massive tax hikes reaching every american. we've seen democrats from the president on down using the so-called crisis to ram their left wing agenda down your throat. they want bigger taxes, bigger government. for example, take a look. >> if despite the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fac
NBC
Nov 26, 2012 5:00pm PST
cuts for those make mortgage than $250,000. >> billionaire warren buffett, an obama ally today wrote an editorial in "the new york times," calling for a higher minimum tax for the wealthy. >>> a shake-up in the middle east in politics today as an israeli moderate resigns. israeli defense minister ehud barack abruptly quit politics today, saying he'll only finish out his term. the obama administration had embraced him as a moderate influence on benjamin netanyahu's hard-line policies. meanwhile, a leader of hamas is warning that a fragile ceasefire in gaza could flare back into violence if negotiators don't come to agreement quickly. negotiations have to proceed through egyptian messagers because israel and the united states consider hamas a terrorist organization. >>> still ahead here at 5:00, it's a distinction that universities don't want. the bay area school, though, near the top of this dubious list. >>> and a blockbuster acquisition that never was. google tied to a takeover deal the company is now calling a hoax. >>> and a celebration filled with secret information. how sensitiv
PBS
Nov 27, 2012 3:00pm PST
congress. the goal: a sweeping deficit agreement to avert $650 billion in spending cuts and tax increases at the start of 2013. from the white house came word that president obama will try to build public pressure on congress to raise taxes on the wealthy and prevent tax hikes for everyone else. white house spokesman jay carney. >> well, the president believes very strongly that the american people matter in this debate. because this debate is about them. the question of whether or not taxes go up on 98% of american tax payers is a very important to ordinary americans. it is not just a matter for discussion between the president and the senate minority leader. or other congressional leaders. >> brown: to that end the president met privately today with small business owners. on friday he'll travel to the philadelphia area to speak further on the issue. not to be outdone, house republicans said they'll meet with small business owners and workers in their districts arguing against the president's plan. in the senate republican my ontario leader mitch mcconnell dismissed the preside
CSPAN
Nov 27, 2012 7:00am EST
adopted mitt romney's -- for these home deductions. these people want to go around saying obama, obama wally is cutting your social security and medicare in your home deductions are really happy. we are not in this for nothing. nobody cares about us because we want to be so proud of president obama. and let him defund social security. the democrats have no intention of ending the debt ceiling now, because they want to give away more democratic priorities. we hostages. when the republicans have not given anything yet, that is what you get here you get your priorities cut. because you did not say a word. so sit back in your house and yelled obama, obama while he takes all of the food out of your mouth. host: let me echo some sentiments your efforts to facee spending resistance. the two senators, the story often notes that this is what they would like to see from the president. they want him to start negotiations at a one-one ratio. putting them in line with many in the parties that want to see a harder line taken by democrats. some advocating going over the fiscal cliff. democratic caller, mary, what do you t
FOX
Nov 27, 2012 7:00am PST
promised spending cuts that won't materialize later. >> reporter: and president obama is holding a series of events at the white house and on the road trying to win more public support this week for his approach. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> 7:44. wall street seems to be teetering on that fiscal cliff as investors wait too react. pam cook -- wait to react. pam cook is here to tell us what is it at stake. what is at stake? >> a lot. it's being discussed on capitol hill and being watched on wall street. in order to avoid this disaster, it involves tax and spending cuts. tough decisions will have to be made. many economists say for a fixed amount of revenue its eitherrier to remove deduction -- either to remove deductions. one item being discussed, interest on mortgages. >> the concern is if nothing is done, we have automatic tax increases, big tax increases and automatic spending cuts. that produces the fiscal drag the government is making -- is taking more income out of the taxes and pumping less into spending. the concern is that coul
CNN
Nov 26, 2012 5:00pm PST
they want president obama to compromise with republicans on taxes and spending. an identical 72% want republicans to do the same, compromise with the other side. as for what compromise should entail, 67% favor a mix of spending cuts and tax increases. that's what they say real progress would look like. keeping them honest, real progress is one thing. washington progress is another. so far at least we see much more of the second than the first, and we're getting late new word that any progress might be stalled. more on that shortly. first, a good example of washington progress. republican lawmakers standing up in a limited way to a beltway power broker named grovier norquist over the 1980s era pledge he pressures them to sign promising not to raise any taxes ever. >> i'm not obligated on the pledge. i made tennesseans aware. i was just elected. the only thing i'm honoring is the oath i take when i serve when i'm sworn in this january. >> that's senator bob corker and one of the a handful up republican lawmakers repudiating the pledge. he'll join us shortly. i'll ask him to be mor
KOFY
Nov 26, 2012 9:00pm PST
news she too would be willing to break the pledge in exchange for spending cuts. this is good news washington. >> vulnerable tax deduction from mortgage interest as president obama and congress try to work out a deal that reduces the budget different situations. cap would likely be amend at high income schooled. >> president obama is now pondering cabinet reshuffle and republicans are softening on one of the leading candidate to replace hillary clinton. 7 news political reporter mark matthews tonight with short list that includes some well known bay area names. >> president known for some time that secretary of treasury tim guy and secretary of state hillary clinton are heeded for the door. leading candidate fo is rice but republican senator vowed to fight. if she got the nod. >> we will did whatever is necessary to block the name nation. >> the president fired back. >> when they after the un ambassador because she's an easy target? they have a problem with it. >>reporter: tonight senator mccain backing away. >> i think she deserves the ability and opportunity to explain herself an
FOX News
Nov 26, 2012 11:00pm PST
obama. >> eric: not even that savior. 36 days going over the fiscal cliff. you should know what is at stake if partisans don't figure out a way soon. bush tax cut goes away and that alone would drive taxes up for every american. the patches will die as well. so add in the failure of the super committee and sequestered $1.2 trillion. spending cuts of $600 billion in defense. why are we here? you can't blame revenues. americans forked over $2.3 trillion in taxes and fees last year. the taxaholics are stone cold drunk on our spending. spending is out of control. mr. president, waiting for you to stand up and show leadership. bob, haven't heard a thing. crickets. >> eric: i think you heard things. there is movement going on here. >> bob: i'm glad they're breaking away from norquist and say there is a need for revenue. i think whether that comes in form of limiting deductions to $50,000 for people making over $250,000 or -- >> eric: i can say. we will get to all of that. we'll get to the deals that may go on. where is obama's deal or his idea? his proposed, i don't know. the medicare, m
SFGTV2
Nov 27, 2012 4:00am PST
have an adequate rail connection and that promise was made because we have the opportunity here to cut the commute for tens of thousands of people everyday in half by this investment. the vast majority of the people don't own a car. they depend on transit. well today through president obama's leadership, secretary lahood leadership, the vision of the leaders on the stage we are here to commit $942 million to fulfill that promise. [applause] >> with the signing of this grant agreement we are taking $942 million paid by california taxpayers and to create jobs now when we need them. we're also using those dollars to improve the quality of life, and as jackie spear pointed out plan for the future and economic prosperity of this whole area. when this subway extension opens as senator feinstein pointed out there will be 44,000 people using this light rail line. what she didn't point out that will make it the second or third busiest light rail in the united states. this is an environment that needs to be made and once it's built are gone the days when we have senior citizens watching the driv
FOX News
Nov 27, 2012 6:00am PST
supportive of every one of barack obama's wasteful spending programs e. wants to raise taxes to pay for it. you heard from van hollen earlier they are not interested in cutting any spending at all. they want to koeupbt as their contribution to budget he restraint, democrats. cuts already in law and 800 bill dollars that he claims he saved for not occupying iraq for the next decade. iraq kicked him out a while ago. all of the president's tax cuts are make believe and they are trying to have a conversation about raising taxes 1.6 trillion on the american people. this economy is very weak, very fragile, obama's recovery technically going on for four years now feels more like a recession. bill: you wonder if the white house will get its way and if so how much of this. republicans too have been cracking this door a little bit. peter king said over the weekend for instance if i was in congress in 1941 with refrpbl reference to the pledge you made i would have signed a war against japan. i'm not going to attack japan today. the world has changed and the economic situation is different. tha
CNN
Nov 27, 2012 1:00am PST
nobody's quite ready to cut a deal. another round of white house talks between congressional leaders and president obama was promised but is yet to materialize. a senate democratic leadership aide telling us that staff level meetings meant to lay the groundwork haven't been productive. one senate republican leadership aid accuses democrats of leaking details in order to portray republicans negatively. but the aide notes that the talks are continuing, which itself can be read as some sort of progress. whether that's real progress or washington progress, remains to be seen. a lot to talk about starting with tennessee republican senator bob corker. senator corker, thanks very much for joining us. let's talk about grover norquist. no new taxes pledged. you said earlier in your career, you told cbs morning news earlier today, and i'm quoting now, you said you're not obligated on the pledge, adding the only thing i'm honoring is the oath that i take when i'm sworn in this january. so what exactly did you mean by that? did you suggest -- did you mean that under certain circumstances you would b
MSNBC
Nov 27, 2012 9:00am PST
, president obama's number one priority is ensure that tax cuts for middle-class families are preserved and tax rates for the wealthy expire. according to warren buffet that idea is already being accepted across the country. >> there's a general feeling among the general public and congress, that the rich like me have been getting away with low tax rates and time to make the tax rates more progressive. >> while the president seeks an audience with the american citizenry he's limiting his face time with his republican adversaries on the hill. missing from his schedule the meeting he was supposed to have with top congressional leaders. having learned his lesson during the payroll tax fight. >> modern day washington is a little different than it was in 1801. the notion you can solve all problems over a cocktail i think is a little overrated. engaging with not just the denisons of washington but with the broader american public is very important to him. >> while president obama spoke with senate leader harry reid and speaker john boehner by phone on saturday when you see him this week he wi
Current
Nov 26, 2012 5:00pm PST
. what obama is hoping to do is raise taxes spend the money, kill tax reform for individual. >> eliot: meanwhile, some democrats would rather see the country jump off the fiscal cliff than agree to cuts in social security or other social programs. telling nbc news the cliff was more like a gentle slope and there would be plenty of time next year to mitigate it's affects if the deal could not be made. >> this is not an one-day event. thechy does not go into the tank on january 1st or january 2nd 37 all of the tax changes would be for next year's taxes. not this year's taxes. you don't see that immediate impact. >> eliot: i'm joining joined by bernie sanders. welcome. >> thank you. >> eliot: do you think the hold has been broken. >> it does appear that is the case. after the election after poll after poll after poll some republicans are catching on to the idea that you can't get out of the deficit crisis just by cutting, cutting cutting and we all will have to raise taxes. >> eliot: of all the permutations that you've heard of the ideas being floated around, is there any deal that is li
CBS
Nov 27, 2012 5:00am PST
across the board budget cuts will automatically kick in. susan mcginnis has more on today's efforts to get democrats and republicans a little closer together. >>> reporter: president obama will begin a media blitz this week highlighting his efforts to steer clear of the "fiscal cliff." he will first meet with small business owners at the white house today. at the other end of pennsylvania avenue, fellow democrat senator dick durbin will give what's being called a major speech laying out a case for a bipartisan deal. durbin's a member of the senate's gang of 8, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for 2 1/2 year. democratic senator mark warner is also in the gang and says democrats are willing to put entitlements like medicaid and medicare on the negotiating table. >> the math just doesn't work anymore not because the programs are bad but because thank goodness we're living a lot longer. >> reporter: republicans are also signalling they are more open to compromise. they say they will agree to raising tax revenue by limiting deduct
FOX
Nov 27, 2012 4:00am PST
have fewer risks. talks between president obama and congressional leaders continue behind closed doors. they are attempting to reach a deal through a series of meetings before automatic cuts and tax hikes go into effect at the end of the year. the president wants tax breaks for 98% of americans and 97% of small businesses, while raising taxes on the wealthy. most republicans remain against tax hikes and want to cut spending on social programs such as medicare and social security. however, the latest tone out of washington is encouraging. "as thomas jefferson said, and this is a quote, 'we should not put off tomorrow what we can do today.'" "the only balanced approach is one that includes real and lasting reforms, so republicans have stepped out of our comfort zone." in the latest manueverings, the obama administration points out the typical american household will pay $2,200 in additional taxes next year, which could hurt consumer spending by $200 billion in 2013 and threaten christmas shopping this season. house speaker john boehner and a few other key republicans appear willing to co
NBC
Nov 27, 2012 4:30am PST
congress looks to avoid the so-called fiscal cliff where automatic tax hikes and spending cuts kick in at the end of the year if a deal is not reached. nbc's tracie potts has new details this morning from washington. >> reporter: today president obama meets with small business leaders, continuing his push for higher taxes for the wealthy. a new white house economic reports warns if tax breaks go away, the average middle class family willow uncle sam another $2200 next year. >> it seems to be a thing that we can all agree on, that middle class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set against raising taxes on anyone, now hint they may consider other options. >> we've been open to revenue by closing loopholes as long as it's tied to spending cuts and pro-growth tax reform that broadens the base and lowers rates. >> you don't raise rates, you just cap the amount of itemized deductions of taxpayers. >> reporter: the bottom line is america is borrowing too much money trying to keep medicare and social security afloat.
NBC
Nov 26, 2012 6:00pm PST
bill that extends the bush era tax cuts or those making more than $250,000. >> billionaire warren buffett, an obama ally, again with a rate hike on the rich. calling in "the new york times" for a minimum tax on the wealthy. 30% of income between 1 million and $10 million. 35% above that. republicans insist any deal on tax hikes has to come after a commitment to control spending on medicare and social security. adding to the drama, the white house warned the strong start to holiday roadway tail steals could be spoiled by fears of tax hikes. holiday cheer and a reminder. five weeks until l the fiscal cliff. i'm steve handlesman, nbc news, capitol hill. >> a tense standoff in egypt between mohammed morsi and the nation's judiciary branch. they want to lessen tension in cairo. they canceled a massive rally that was planned for tomorrow. at today's meeting was a bid to resolve a four-day crisis that has plunged the country into turmoil. clashes have left one protester dead and hundreds of people wounded. >>> amateur video shows rebels. they were able to seize dozens of boxes of ammunit
CNN
Nov 27, 2012 2:00am PST
to try to solve the fiscal cliff a lot of people are saying we're going to have to see tax cuts get raised. president obama and democrats would like to see that just on democrats alone. republicans, as you said, are starting to peel away from that pledge. however grover norquist is threatening those who do so. let's hear what he had to say. >> no pledge taker has voted for a tax increase. you've had some people discussing impure thoughts on national television. the pledge is not for life but everybody who signed the pledge, including peter king who tried to weasel out of it, shame on him as the new york sun said today, i hope his wife understands that commitments last a little longer than, than, than two years or something. >> there you had grover norquist from the americans for tax reform who has spearheaded this no tax pledge. the fact of the matter is, zoraida, to reach an agreement there's going to have to be compromise, whether that means increasing taxes on some, whether that means changing entitlement reform, both sides are going to have to come to the table to try to reach a
MSNBC
Nov 27, 2012 1:00pm PST
safety net the way it's been, and cut spending, slash spending dramatically. it was very divided policywise and barack obama won pretty handily. >> a week after the election john boehner, speaker boehner, does a press statement and he says we're not going to raise revenues. we should look at loopholes and deductions. >> one thing that hasn't changed and you can put on as many senate republicans as you want looking reasonable. what hasn't changed is the tea party caucus in the house. they've lost a few members, but they're still a majority and john boehner has to find some way to get something past them. that's why i doubt there will be a christmastime deal. i think the president is going to have to let these tax cuts end and then boehner may have a chance of convincing them to pass tax cuts for the bottom 98% without the top 2%. >> do you agree with that, dr. peterson? that the president will be forced to allow these to run their course simply so that republicans in the house won't have to face the wroth, or the wrath as you like to say, of grover norquist? >> i think it's a dist
NBC
Nov 27, 2012 5:00am PST
appreciate it. good morning, scott. the white house says president obama called house speaker john boehner and senate majority leader harry reid over the effort to discuss efforts to avoid the fiscal cliff. that's the combination of tax hikes and spending cuts set to take effect january 1st. the "washington post" reports that boehner plans to have some house republicans meet wither skin bowles. on wednesday president obama will meet with other top ceos. futures meantime are flat this morning, stocks slipping back on monday. the s&p 500 index snapping a five-day winning streak. investors continue to watch those budget talks in washington. meantime, we are expecting today to get some data on demand for durable goods, home prices and consumer confidence. the dow slipping back below 13k losing 42 points to 12,967. the nasdaq edging up nearly 10 to 2976. and i would do a campaign not to vote for marissa mayer for "time" person of the year. remember when we had the head of amazon on the cover of "time" back in 2000. i think there's a little jinx in that. a little like the si jinx. so don
CSPAN
Nov 27, 2012 12:00pm EST
those talks. i still think there's a 60% chance we will go over the fiscal cliff. mr. obama is demanded by congress and george w. bush's tax cuts for the top 2% of income earners households earning more than two and $50,000 a year, that those are extended. the middle class defined as households earning under that amount would be spared, continuing to enjoy the lower rates ushered through congress by mr. bush -- >> "washington journal" airs live every morning at seven eastern on c-span. senators are coming by again after their weekly party lunches, and are expected to debate defense and public policy programs. a senator: mr. president? the presiding officer: the senator from new york. mr. schumer: i ask unanimous consent the quorum be dispensed with. the presiding officer: without objection, so ordered. mr. schumer: mr. president, i rise to discuss the state of the ongoing negotiations to avert the fiscal cliff. so far, there's been little progress reported at the negotiating table. since the president's very productive meeting with the bipartisan leaders from the house and sena
FOX News
Nov 27, 2012 10:00am PST
laura ingram, raising questions about president obama leadership when it comes to the tax hikes and spending cuts that will take effect at the end of this year unless washington do something. her remarks echo mitch mcconnell, who took an even tougher time today. criticizing the president for staging a series of campaign style events instead of what he says would be leadership. joining me now to discuss that is the dog show. a former pollster for president clinton and cohost of campaign insiders here on the fox news channel. he is also a fox news contributor. so this is how real america is going to be affected if this takes place. she seems to be suggesting, that he is not talking to the right people. he needs to be dealmaking and leading and inspiring the folks on capitol hill to follow. doug? >> i absolutely agree, megyn. the president has won the election. but the bottom line is that he got 51% of the vote. it is hardly an overarching mandate. 40% voted against him and he has to bring the country together. the way you do that is by compromising. the republicans have put revenue on
FOX News
Nov 27, 2012 3:00pm PST
is what our children have to worry about. >> when president obama was first elected he talk about the way it would bring down deficit. the campaign promise is to cut the deficit in half. he said he would do it by focusing at the center of his proposal, going to be entitlement reform. we have seen none of that. more than four years. >> bret: interesting op-ed by bill archer and chris cox in "wall street journal" saying that the real outlay is $86 trillion of unfunded liabilities. obligations when you include all of the federal government, what it owes. that is obviously dwarfs the $16 trillion in debt we hold. >> which raises the question why are republicans allowing the entire debate to be about taxes? and about the war among republicans over holding the line on the norquist pledge or not. when what obama is proposing on raising the rates on the 2% is a triviality. it will reduce the deficit from $11.01 trillion to $1. $1.02 trillion. eight cents on the dollar. nothing. lunch money. it's rounding error. yet that is all the debate we are hearing. obama understands this. he is tryin
CSPAN
Nov 26, 2012 8:00pm EST
obama still believes the payroll tax cut should be part of broader fiscal talks, suggesting that an issue that was settled months ago could see new life. alan krueger said that "the payroll tax cut has helped middle-class families, has helped support the economy, and help support consumption giving the president has said that the payroll tax cut should be on the table. you can see his comments coming up in about 2.5 hours. while the budget agreement that set up the january fiscal cliff did have bipartisan support in 2011, there were a number of house members who were critical of the legislation. the progressive caucus was one of the groups that did not support the measure, saying it would help -- it would hurt ordinary americans. other members of the caucus spoke to reporters after the vote. >> hello, ladies and gentlemen of the press. my name is keith ellison. i am co-chair of the progressive caucus. i'm joined by barbara lee, maxine waters, a long-term leader in the progressive caucus, -- while voting to increase the debt ceiling is a necessary step, the reduction measures will fu
CSPAN
Nov 27, 2012 5:00pm EST
on revenues. >> we have already done more than $1 billion worth of cuts, so we need to get credit for that in these negotiations that take place. >> senator durbin said he thinks that president obama won't include a deal [inaudible] >> first of all, the debt ceiling. we would be foolish to work out something on stopping this from going over the cliff and then a month or six months later the republicans pull the same game as they did before and say we aren't going to agree to increasing the debt ceiling. i agree with the president. it has to be a package deal. what was your other question? [inaudible question] >> there are things we have already taken care of, the first of april and take a look at that stuff. that's not essential. [inaudible question] >> we can't do anything with the disaster aid package and i'm told it will be tomorrow or the next day. [inaudible question] >> republican, ok. you said what's holding it up? i said republicans. talk to the republicans. it's up to them. [inaudible question] >> i have said on a number of occasions the internet poker bill can move forwa
KRON
Nov 26, 2012 5:00pm PST
spending cuts that could damage the economy. president obama has been pressuring republicans to reach a compromise that increases taxes on wealthy americans. a handful of republicans are suggesting they might break their pledge to never go for higher taxes. >> i will violate the pledge, long story short for the good of the country. >> the world has changed. >> it is music to years of the white house and very disturbing to this man. he is an anti-tax person and who got the republicans to sign a note signed the no tax increase agreement in the first place. >> if you go to voters and say i made this promise and now i'm breaking his promise you should know that and say to them. >> 258 members of congress have signed the pledge. only about half dozen have x rest doubts about it. the test of whether not there are willing to break a promise to not bring taxes will come in the next six weeks. the president seems to be gaining a little ground today and senator john mccain seemed to soften his position on susan rice. rice was the choice to replace hillary clinton as secretary of state. mccain was
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